The Kansas Correlations

KTXIX Fund

USD 18.35 0.02 0.11%

The current 90-days correlation between Kansas Tax and The National Tax Free is 0.12 (i.e., Average diversification). The correlation of The Kansas is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

The Kansas Correlation With Market

Average diversification

The correlation between The Kansas Tax Free and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Kansas Tax Free and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in The Kansas Tax Free. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with The Mutual Fund

0.78	CFBNX	Bond Fund	Pair Corr
0.93	CFMOX	Missouri Tax	Pair Corr
0.93	CFNLX	National Tax	Pair Corr
0.82	CFSTX	Short Term	Pair Corr
0.97	KYTFX	Kentucky Tax Free	Pair Corr
0.85	UVABX	Virginia Bond	Pair Corr
0.99	HULYX	Hawaiian Tax Free	Pair Corr
0.99	HULFX	Hawaiian Tax Free	Pair Corr
0.99	ORTYX	Aquila Tax Free	Pair Corr
0.94	UVAIX	Usaa Virginia Bond	Pair Corr
0.94	USVAX	Virginia Bond	Pair Corr
0.99	HULAX	Hawaiian Tax Free	Pair Corr

Moving against The Mutual Fund

0.47	ORFFX	Aquila Tax Free	Pair Corr
0.45	CFGRX	Growth Fund	Pair Corr
0.4	CFAGX	Midcap Growth	Pair Corr
0.33	CFMVX	Commerce Midcap Value	Pair Corr
0.46	VIGAX	Vanguard Growth Index	Pair Corr
0.45	LTFOX	Lord Abbett Affiliated	Pair Corr
0.4	FTCAX	Templeton Strained Bond	Pair Corr
0.4	VFIAX	Vanguard 500 Index	Pair Corr
0.4	VFINX	Vanguard 500 Index	Pair Corr
0.4	RQECX	Resq Dynamic Allocation	Pair Corr
0.39	VTSMX	Vanguard Total Stock	Pair Corr
0.38	RCILX	Alternative Credit Income	Pair Corr
0.36	PYARX	Payden Absolute Return	Pair Corr
0.36	LLPFX	Longleaf Partners	Pair Corr
0.36	AGTHX	Growth Fund	Pair Corr
0.35	PYAIX	Payden Absolute Return	Pair Corr
0.35	SMERX	Invesco Small Cap	Pair Corr
0.33	SCRYX	Small Cap Core	Pair Corr

Related Correlations Analysis

	CFNLX	CFMOX	SEKSX	KSMUX	MRSKX
CFNLX		0.99	0.91	0.92	0.54	CFNLX
CFMOX	0.99		0.92	0.91	0.49	CFMOX
SEKSX	0.91	0.92		0.94	0.51	SEKSX
KSMUX	0.92	0.91	0.94		0.6	KSMUX
MRSKX	0.54	0.49	0.51	0.6		MRSKX
	CFNLX	CFMOX	SEKSX	KSMUX	MRSKX

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Risk-Adjusted Indicators

There is a big difference between The Mutual Fund performing well and The Kansas Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze The Kansas' multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
CFNLX	0.11	0.00	(0.40)	0.12	0.19	(0.15)	0.22	(0.32)	1.13
CFMOX	0.12	0.00	(0.43)	0.10	0.19	(0.14)	0.22	(0.27)	1.08
SEKSX	0.11	(0.01)	(0.39)	(0.10)	0.15	(0.16)	0.20	(0.29)	0.89
KSMUX	0.13	(0.02)	0.00	(0.34)	0.00	0.00	0.31	(0.41)	1.46
MRSKX	0.62	(0.07)	0.00	0.60	0.00	0.00	1.00	(1.34)	3.72

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